The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Piral Dadhania - RBC Capital Markets Inc - Analyst
: Okay, thank you very much for taking my question. Apologies if there's any background noise. I was just wondering if you could give any update
as to how September has progressed because we're seeing indicators out there in the marketplace and potentially some evidence that there was
a bit of pull forward in terms of consumer demand into the back-to-school period in August, which should have benefited your Q1. So just curious
about how you're seeing the current marketplace in September trading, if possible? Thank you very much.
Question: Matthew Boss - JPMorgan Chase & Co - Analyst
: Thanks, and congrats on the progress. Elliot, maybe could you help elaborate on some of the early wins under your belt that you cited notably the
return to growth in North America and the material acceleration in running -- and with that, I guess, could you speak to the structural foundation
that you've now built that you believe is the key to expanding the strategy to other parts of the portfolio?
Question: Brooke Roach - Goldman Sachs Group Inc - Analyst
: Good afternoon and thank you for taking the question. Elliott, as you contemplate the traffic headwinds you're seeing today in NIKE Digital, how
much of the pressure is attributable to the strategic reduction in promotion versus other factors? And as you look ahead, what are the most
important milestones we should be watching for to return that business to profitable growth?
Question: Lorraine Hutchinson - Bofa Merrill Lynch Asset Holdings Inc - Analyst
: Thank you. Good afternoon. I wanted to see if you could focus on China for a minute. Can you talk about the strategies that you're using to turn
the digital business? And then also the cost and time line of the store refresh.
Question: John Kernan - Cowen and Company LLC - Analyst
: Thank you. Good afternoon, and congrats on the momentum with the turnaround. Hey, Matt, inventory down 2% on the balance sheet, which I
think would imply units down even further, how would you characterize the inventory in the wholesale channel and the timing of when wholesale
discounts, which I think have been a pretty sizable headwind on gross margin? When will they begin to fade?
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SEPTEMBER 30, 2025 / 9:00PM, NKE.N - Q1 2026 Nike Inc Earnings Call
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